Contemporary Duplex with
For Sale
$624,950
916 2nd St, Cheney, WA 99004
Residential Income, Cheney, WA
Property Size3,065 SF
Lot Size0.14 Acres
Price / SF$203.90
Days on Market183
Property Features for 916 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 1, Bedroom 6, Bedroom 3, Utility Room, Bathroom 4, Bathroom 3, Bathroom 1, Laundry Room, Bedroom 5, Bathroom 2, Bedroom 2
Parking
4
Parking features
Offsite, Open, Oversize
Window features
Vinyl Frames
Patio and Porch features
Patio
Interior features
High Speed Internet
Basement
Crawl Space
Appliances
Free-Standing Range, Dishwasher, Refrigerator, Microwave, Washer, Dryer
Lot features
Sprinkler - Automatic, Level, Surveyed
Elementary school
Betz
Middle school
Cheney
High school
Cheney
Elementary school district
Cheney
Directions
GPS is accurate
Standard status
Active
APN
13131.3212
Size
3,065 SF
Lot size
0.14 Acres
Utilities
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Year built
2024
Floors in Building
2
Number of units
2
Building materials
Fiber Cement
Roof type
Composition
Architectural style
Contemporary
Listing Agency:
Keller Williams Realty Coeur d
(208) 667-2399
Listed By:
Seth Maefsky
(208) 651-9700
Added: Apr 29
Changed: Oct 23
Last Checked: Oct 28 at 10:06AM
MLS# 202616302
Copyright © 2026 Spokane Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Completed in 2024, this contemporary duplex contains two residences within 3,065 square feet. Each side offers three bedrooms, 2.5 baths, a primary suite with an en suite bath and walk-in closet, and a kitchen equipped with quartz counters, custom cabinetry, and stainless steel appliances. Natural gas forced-air heat and central air serve both units, while fiber-cement construction and composition roofing provide the exterior envelope. Each residence also includes a two-car garage and patio space.
The property occupies 0.1377 acres at 916 2nd St in Cheney, Washington. Both units are occupied under long-term leases. Eastern Washington University, shopping, and restaurants are located nearby, with shopping and dining a few blocks away.
The property occupies 0.1377 acres at 916 2nd St in Cheney, Washington. Both units are occupied under long-term leases. Eastern Washington University, shopping, and restaurants are located nearby, with shopping and dining a few blocks away.
Key Highlights
- Two‑unit duplex with 3,065 square feet, completed in 2024
- Each residence has 3 bedrooms, 2.5 baths, and a 2‑car garage
- Both units are occupied under long‑term leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,019
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,380
$680.4K
Cap Rate 7%
$485,986
$486.0K
Cap Rate 9%
$377,989
$378.0K
Market Conditions
NOI Build-Up for 3,065 SF
Gross rent
$52.6K $17.16/SF
− Vacancy
−$4.0K −$1.30/SF
EGI
$48.6K $15.86/SF
− OpEx
−$14.6K −$4.76/SF
NOI
$34.0K $11.10/SF
Area
Spokane County, WA
Vacancy
7.60%
Lease Rate
$17.16 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$680,380
Cap Rate 7%
$485,986
Cap Rate 9%
$377,989
Alternative Uses
Best Use
Multifamily LT 5
$486.0K
$425.2K – $567.0K
NOI $34,019 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$446.7K
$390.8K – $521.1K
NOI $31,266 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$708.2K
$619.7K – $826.3K
NOI $49,576 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
504
Businesses Nearby
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Business Placement
Demographics for 99004, WA
23,064
Population
8,992
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
334.3 sq mi
ZIP Area
69
Density / Sq Mi
$62,014
Median Household Income
$29,835
Median Earnings
$1,081
Median Rent
$368,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two leased residences provide three bedrooms, 2.5 baths, and dedicated two-car garages on each side.
Where is this duplex located?
The property is located at 916 2nd St Cheney, WA.
What is the asking price?
The asking price for this property is $624,950.
What are key features of this property?
This property features: Two‑unit duplex with 3,065 square feet, completed in 2024; Each residence has 3 bedrooms, 2.5 baths, and a 2‑car garage; Both units are occupied under long‑term leases
